Azerbaijan, Baku, May 20 / Trend U. Ismayilova /
Azerbaijani Society of Appraisers intends to hold summer courses for bank staff in studying national standards of assessment, coordinator of the society Amil Ismayilov said today.
"The main purpose of courses is the promotion of national standards for the evaluation of the local banking staff", he said.
The Azerbaijani State Committee for Standardization, Metrology and Patents approved nine national standards for assessment activities December 18, 2009.
The following standards, including professional ethics of an appraiser; generally accepted principles of assessment; market value as the base valuation; the basis of valuation other than market value, a report on the assessment, evaluation of the tangible assets, valuation of industrial equipment, machinery and equipment bound for the preparation of financial and accounting, assessment of loan security, bond and debt are approved.
The quality of the evaluation activities is improved within the IFC's development program of mortgage lending in Azerbaijan and Central Asia.
Azerbaijani Society of Appraisers is registered in Azerbaijan in 1997. It is a public organization which unites all appraisers working in the territory of Azerbaijan. Evaluation activity in Azerbaijan is governed by the law "Valuation activity" adopted in 1995.